Kuwait International Bank said that its net profit reached KD8.9m in the first half of 2014 compared to KD 6m in the same period of 2013 with a remarkable increment of 48%, Kuwait Times reported. Sheikh Mohammad Al-Jarrah Al- Sabah, Chairman of Kuwait International Bank, said, Operating profit before provisions amounted to KD16.7m. Increases in fees and commission income by 29% and other income by 83% for the comparative period were also posted. Al-Jarrah pointed to a positive asset growth of 16%, where total assets grew to KD1,606m in the first half of 2014 compared to KD1,382m during the same period of 2013. KIB also reached a Capital Adequacy Ratio (CAR) of 25.43% according to the requirements of Basel 3, above the regulatory requirements of 13%. Return on Assets (ROA) reached 1.15% compared to 0.92%, with Return on Equity (ROE) amounting to 7.94% vs. 5.62% for the comparative period.
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